Maruti rules out competition with Nano

New Delhi, Sep 4 (UNI) Maruti Suzuki India Ltd today said it has no plans to enter the ''nano car segment'' or become a competitor to the existing player.

''Maruti has always been in small car segment and we have always concentrated on that category of up to 1200 cc cars.

But Nano is something which is a totally different segment and we are not venturing or competing in that segment,'' Maruti Suzuki Chairman and MD R C Bhargava told reporters here.

Asked about the decline in the sale of small cars and four-wheelers, Mr Bhargava said such kind of temporary downslide has been faced by the industry earlier.

''It won't take the industry long to recover and the market to stabilise. Certain external factors like rise in crude oil prices, the sub-prime crisis and inflationary pressure has hurt the auto industry just like any other industry and if the oil price stabilises, the entire affect will mitigate,'' he said.

He reamained optimistic of the upcoming festive season, saying it would lead to increase in sale of small cars.

Regarding the Singur controversy, Mr Bhargava said one such case would not make much of a difference. ''It is very necessary for an important state like West Bengal to have industries. It is a pity that they did not go for the Singur project and we hope that the issue will be sorted out,'' Mr Bhargava said.